Nebius Group just locked down $775 million in fresh capital to expand its AI cloud platform. And it did it without printing a single new share.
The NASDAQ-listed company finalized its first senior secured debt facility on July 17, structured specifically to avoid equity dilution.
Inside the deal
The debt is priced at Term SOFR + 2.50%, which matures on October 31, 2030, giving Nebius roughly four years to put the capital to work and generate returns.
The facility is asset-backed, secured by cash flows from Nebius’s already-deployed GPU infrastructure. The real anchor is over $40 billion in contracted customer commitments sitting behind the deal.
